Case study – commercial 1

A university spin-out company approached ITL with a novel idea for a diagnostic device for which the European patents were in the process of being filed. In order to secure Venture Capital funding, the client required input from a reputable instrument design company to generate a business plan for the next two years. ITL provided input to this plan with the time-scale and costs for the development of the instrument needed to implement the novel application. We generated realistic manpower costing, a project plan including resource requirements, estimates for the instrument parts costs and regulatory submission costs. ITL advised on the regulatory requirements and reviewed the initial design concept with a view to reliability and manufacturability.

What was in it for us?

By investing time and effort up-front in a spin-out company, ITL was able to be part of the process of evolution and growth of that company with a view to securing the design and development work after funding was obtained. Our ultimate objective in this circumstance is to be the manufacturing facility for such companies.